Which of the following states that a company must perform strictly proper accounting only for items that are significant to the business's financial statements?
A) conservatism
B) materiality concept
C) disclosure principle
D) consistency principle
Correct Answer:
Verified
Q12: Which of the following principles states that
Q13: The disclosure principle states that a company
Q14: The accounting principles followed for a $5,000
Q15: The disclosure principle states that a company
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Q18: A company discovers that its cost of
Q19: The consistency principle states that businesses should
Q20: A company is uncertain whether a complex
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Q22: Ending inventory equals the cost of goods
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